In 2003, Diesel Tech of Louisiana LLC was founded in Houma, La.,
as a regional marine diesel engine service company. Since its
founding, the company has grown with help from state programs
designed to help small businesses grow and prosper. Last year, the
Louisiana Economic Development Corporation, or LEDC, and its Small
Business Loan Program, awarded Diesel Tech with a $1.5 million loan
guaranty to expand its current operations to include a
47,322-square-foot commercial building.
"LEDC, in my opinion, is one of the top organizations in our
community that wants to see small businesses succeed," said Diesel
Tech President Ricky Price. "This organization looked at us and saw
that we have what it takes to be a great company. They gave us that
chance to prove what we are all about."
Diesel Tech is a multifaceted, heavy industrial and marine
service company that provides sales, service, parts and warranties
for diesel engines ranging from 100 horsepower to 1,080 horsepower,
and power generation equipment from 5KW to 5MW.
LEDC administers the Small Business Loan Program, which provides
loan guarantees and participations to banks in order to facilitate
capital accessibility for businesses. Guarantees may range up to 75
percent of the loan amount, not to exceed $1.5 million. Loan
participations of up to 40 percent are also available. Applicants
must have a business plan and a bank that is willing to fund the
loan.
